In addition to what’s expected to be a good stress test day tomorrow, European markets are also benefiting from strong economic data.
A composite index based on a survey of euro-area purchasing managers in both industries increased to 56.7 from 56 in June, London-based Markit Economics said today. Economists had projected a drop to 55.5, the median of 18 estimates in a Bloomberg survey showed. European stocks advanced and the euro rose against the dollar.
Meanwhile, notes ForexLive, industrial production surged 3.8% compared to expectations of flat.